Terra (LUNA) Founder Do Kwon's Extradition to the US and South Korea Approved by Montenegro Court

The extradition of disgraced Terra (LUNA) founder Do Kwon to the US and South Korea has been approved by a court in Montenegro. In a new press release, the Higher Court of Podgorica has ruled that the legal requirements needed for extraditing Kwon to the US and South Korea have been met.

Timeline of Terra-luna-v2, Terra-luna

The saga of Terraform Labs founder Do Kwon continues to unravel with a court in Podgorica, the capital of Montenegro, approving his extradition — though the Montenegrin Minister of Justice will make the final decision on whether he will be extradited to South Korea or the United States.

Do Kwon, the founder and former CEO of Terraform Labs, lost an appeal after being convicted of passport fraud, a Montenegro court ordered on Nov. 16. In June, Kwon and fellow Terra associate Han Chang-joon were convicted of falsifying passport documents by the Basic Court in Podgorica, Montenegro's capital city.

In the midst of the ever-changing dynamics of the cryptocurrency market, Terra Classic (LUNC), the precursor to the troubled Terra (LUNA) network, has piqued the interest of artificial intelligence (AI) analysts. With its current valuation standing at a humble $0.000064, LUNC has certainly weathered its share of price fluctuations.

Binance, the world's largest crypto exchange, has completed its 15th round of burning Terra Luna Classic (LUNC) tokens, totaling 760 million tokens. This brings Binance's total LUNC burn to nearly 40 billion tokens.

Terraform Labs and its co-founder, Do Kwon, are actively seeking vindication in their ongoing battle with the U.S. Securities and Exchange Commission (SEC). They have petitioned Judge Jed Rakoff of the U.S. District Court for the Southern District of New York to rule in their favor.

Terraform Labs and its co-founder, Do Kwon, are asking a federal judge to side with them in the U.S. Securities and Exchange Commission (SEC) fraud case, arguing that the regulator hasn't managed to prove the crypto company was offering securities.

Terraform Labs co-founder Do Kwon is pushing back against the United States Securities and Exchange Commission (SEC) regarding Slack messages presented as crucial evidence in an ongoing legal battle.

The legal representatives of Do Kwon, the co-founder of Terraform Labs, have approached a federal court with a plea to prevent the United States Securities and Exchange Commission (SEC) from interrogating him on American soil regarding the failure of the Terra ecosystem. A recent filing on September 27 revealed that Kwons attorneys argued that its infeasible for the SEC to question him stateside before October 13.

With the volatile overall market, altcoins like Terra are gaining momentum to reclaim higher levels. The LUNA coin price has shown remarkable growth over the past few days to complete the rounding bottom pattern and exceed the 50-day EMA.

Terra Classic (LUNC) from the past few weeks is in the green zone, with a cumulative seven-day price increase of 13%. With a great trading volume, LUNC has peaked by 323.66% in the last 24 hours, propelling its price to $0.00006508, representing an 8% gain amidst a broader passive crypto market.